Escolar Documentos
Profissional Documentos
Cultura Documentos
Corporate
Governance
Role of Board
–Monitor
Members --
–Inside directors
•“management directors”
•Officers or execs employed by the firm
–Outside directors
•“non-management directors”
•Execs of other firms not employed by the
board’s corporation
Agency Problem –
–Objectives of owners & agents in conflict
–Difficult for owners to verify agent performance
–Affiliated Directors
–Retired Directors
–Family Directors
Codetermination
Interlocking Directorates
–Direct Interlocking
–Indirect Interlocking
–Traditional Approach
•CEO invitation to membership
•Shareholders approval in annual proxy statement
•All nominees usually elected
Sarbanes-Oxley
–Code of Ethics
–Size
Corporate Governance
Transformational leaders
Successful CEO’s
–Strategic vision
–Passion for the company
–Strong communication
–charisma
Executive Leadership
–Strategic vision
–Role model
Executive Leadership